Research and development in private law

Research and development in private law

The Procedure for Issuing and Enforcing a Bankruptcy Judgments

Document Type : Original Article

Authors
1 PhD in Private Law and former Supreme Court Judge, Tehran, Iran
2 PhD student in private law, Farabi college, University of Tehran, Tehran, Iran
Abstract
The Insolvency of merchant in paying their debts may cause pathetic consequences. The consequences of this crisis sometimes may lead to ruin of the individual’s assets and also in some cases, economy and credibility of a authority. Prevention of this situation needs taking prudent measures, legal judgements and juridical rules. The approach that has been applied by the majority of legal system in the world, in such a way that  each of them have tried to avoid the bankruptcy crisis in their own method. This approach covers the creditors’ rights and interests,  the reputation of the legal system, and concurrently the bankrupt person,.
 In accordance with the commercial regulations and bankruptcy proceedings of Iran, it has been tried to manage and control the bankruptcy crisis in a way that encompasses the aforementioned objectives. Based on this, some specific methods have been adopted for enforcing and procedures of enforcement of the bankruptcy suspension judgement.
 It should aslo be noted that, it can be referred to execution of the judgment before it becomes final, two-stage enforcement of the judgement (primary and final), the rehabilitation of the merchant through a composition agreement, management of the merchant’s assets through the liquidation officials on behalf of the merchant, and sale or division of the merchant`s property.
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